Greenwing nearly triples Graphmada resource
PERTH (miningweekly.com) – ASX-listed Greenwing Resources has reported a 212% increase in the graphite resource at its Graphmada mining complex, in Madagascar.
The company has expanded the mineral resource to 61.9-million tonnes, at 4.5% fixed carbon, containing more than 2.7-million tonnes of contained graphite.
“This is a fantastic result, giving Greenwing the opportunity to potentially supply traditional industrial markets and the advanced materials market from our soft rock resource and the lithium battery anode market from our hard rock resource,” said CEO Craig Lennon on Tuesday.
“The lithium battery anode market is forecast to move into a structural deficit by mid-decade if not before, with end- users looking to secure raw material for their strategic supply chains. We will continue our focus on completing feasibility studies, while actively looking for partners that can help advance the project.”
The ongoing feasibility studies at Graphmada are focusing on expanded production levels, and a concept study will be completed during the quarter to determine the potential of Graphmada to supply both advanced material and lithium battery anode markets.
Greenwing in 2020, then known as Bass Metals, placed the Graphmada mine on care and maintenance owing to the onset of the Covid-19 pandemic. The mine currently has a 40-year mining lease permit and a 20-year landholder agreement in place, along with a Stage 1 processing plant and 20 months of concentrate production.
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